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Bear Trigger Remains Exposed

EURUSD TECHS
  • RES 4: 1.1185 High Mar 31 and a key resistance
  • RES 3: 1.1076 High Apr 1
  • RES 2: 1.1009 50-day EMA
  • RES 1: 1.0887/0936 20-day EMA / High Apr 21
  • PRICE: 1.0775 @ 06:10 BST Apr 25
  • SUP 1: 1.0758 Low Apr 14 and the bear trigger
  • SUP 2: 1.0727 Low Apr 24, 2020 and bear trigger
  • SUP 3: 1.0659 0.764 proj of the Feb 10 - Mar 7 - 31 price swing
  • SUP 4: 1.0636 Low March 23 2020

EURUSD remains vulnerable. The pair failed to hold on to last week’s gains. A resumption of strength and a break of 1.0936 is required to signal scope for a continuation higher, potentially towards the 50-day EMA, at 1.1009. Recent short-term gains are still considered corrective and the 50-day EMA represents the next key resistance point. The bear trigger is at 1.0758, the Apr 14 low, where a break would confirm a resumption of the downtrend.

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